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Household inflation expectations up by 0.4 pp to 11.5% in August — Bank of Russia

The median of inflation expectations in the subgroup with savings totaled 10.4% in August

MOSCOW, August 23. /TASS/. Russian households’ inflation expectations rose by 0.4 percentage points in August to 11.5%, according to files released by the Central Bank.

"According to a survey by inFOM, in August 2023 the median estimate of inflation expectations in the annual horizon amounted to 11.5% (+0.4 p.p. compared with July, +1 p.p. compared with Q2 2023 average). Amid the ruble’s weakening expectations of respondents both with savings and without them increased. The median of inflation expectations in the subgroup with savings totaled 10.4% in August (+0.2 p.p. compared with July)," the regulator said.

According the Central Bank’s outlook, considering the current monetary policy annual inflation in the country will stand at 5-6.5% in 2023, get back to 4% in 2024 and remain close to 4% in the future.

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